A Debit Card Fraud is Common - Awareness is Must

A debit card fraud is very common and there is continuous disturbance made by the fraudsters in different parts of the world. Debit card fraud has increased and several attempts are made, yet the net outcome is zero. With the advent of the internet banking, the hackers can hack the amount from your account and leave you bankrupt, however, rich you may be.

The fraudsters are moving to the internet to hack your account as the introduction of chip and pin has reduced the card fraud in retail stores. The fraudsters have trained themselves in such a way that they need less effort to steal money from the individuals, companies or the government.

Debit Card fraud is a type of fraud that is related to cards and pin numbers. Counterfeit card fraud is very common and it mostly happens overseas. A fake card is made using compromised card details. This card is finally used to make withdrawals from the ATM or make shop purchases.

The fraudsters are very clever and they know the art of shoulder surfing. They observe you entering the PIN at the ATM counter and steal your card by using distraction techniques or pick pocketing. The term skimming means when a fraudster attaches a device to an ATM to record the electronic details from the magnetic details of your debit card. A small camera is used to overlook the PIN pad to capture the entering PIN.

Many people do not know all these facts and they do not have sufficient knowledge about debit card fraud. Awareness is must so that people can take some precautionary measures while dealing with the financial institutions like Kobian financial, City Group, etc. The best way is to go through the latest updates on the web that guides you with the ways to save yourself from debit card related frauds.

A Fraud Insurance Agency Can Suck Your Hard Earned Money

Insurance frauds are very common today and there are different types of insurance frauds. There are insurance frauds as well as auto frauds. Frauds are present in every part of insurance and investments. Their main motto is to have lump sum financial gain. They can ruin you and leave you bankrupt on the street. 

There are two types of insurance frauds. One is soft fraud and the other is the hard fraud. The soft fraud occurs when an insured party initiates an already legitimate claim. For example, an insured party is involved in a car accident and claims that more damage is done to the vehicle than what is true. The soft fraud can even happen at the beginning of a new insurance policy, when an individual purchasing a policy misrepresents their actually situation in order to get a lower premium. 

On the other hand, hard fraud is when someone plans a loss to receive an insurance payout. A similar example happened in the year 2002, where a man disappeared in a canoe trip. His family collected his life insurance and he reappeared again in the year 2007 with reported memory loss. 

The auto insurance fraud is also very common. In the year 1996, 36 % of auto insurance claims were fraudulent in nature. Many times, people claim for an injury that actually did not happen at the time of the accident. These types of insurance related frauds and scams are common and they are increasing day by day.

Insurance fraud is a real time problem today. It is necessary to understand all the schemes and plans before putting down your signature on the paper. Companies like Kobian Financial provides reliable means of investment, yet a sound knowledge about the company and investment returns keeps you on the safer side

Tips To keep Away From Financial Frauds

Investment fraud is not a new thing at all. People often become victimized and innocent people suffer a lot. With the pace of time, the investment frauds have taken part in electronic transactions and the problem of being bankrupt has increased. There is some guidance you must follow to protect yourself and reduce the risk of imprudent investment as well as fraud.

The first thing is to educate yourself. You must see the amount of return. Many companies promise to give double amount in return. That is not true always. Most of these promises made by the financial services are fraud in nature. You must also map out the investment plans because that is very essential.

It is better to avoid strangers, who are not well-known to you. You must know their business plans and get their business cards before you invest your money. You can also check their business that promises to pay you money after you invest. Go and have a look at the company website and look at the customer reviews in order to conclude. Genuine companies are never fraud and they always keep the proven records of their business.

You can also ask tough questions and know the method how they get their compensation. Do they get any incentive to promote new issues or financial products? Are transactions made, is reflected on the website? Or there are regular performance reports to track every investment. You can reject the offer of the salesperson, if he tries to create any sort of pressure to you.

Fraud men often bluff you and create pressure to force you to make an investment. You can get an independent research report on any stock or bond and a prospectus on mutual funds or variable annuities. Being suspicious is one more way to stay away from frauds. The Kobian Financial Services are well known and there is no involvement of frauds.